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Contains commercial content / Understanding Trading Signals for Forex

Understanding Trading Signals for Forex

Forex Trading Signals 2024

Last Updated on 16/07/2024

The forex markets operate 24 hours a day, 5 days a week. It’d be great if we never needed sleep. The best way to take advantage of the lengthy opening times of the biggest financial marketplace is with forex trading signals.

Forex trading signals are a way to automate identifying trading opportunities in the forex markets. Learning to understand, read and obtain forex trading signals is key to simplifying the trading experience and maximising potential profits. Understanding the fundamentals of trading signals is crucial to leveraging this fantastic trading tool and maximising your profitability.

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What are forex trading signals?

Forex trading signals solve a problem facing all traders – how to identify the perfect trading opportunity. At its core, a forex trading signal is a trading idea that is to be executed if set parameters are met. Forex trading signals are triggers for action, and that action is to buy or sell a particular asset.

Forex trading signals can be used to save a great deal of time – especially handy in a 24/5 marketplace like forex – and can take advantage of trading opportunities while the trader is away. Signals are crucial to trading automation. A standard forex trading signal will be made up of several important parameters or components, pre-set by the creator of the signal, and all the traders will actually need to do is the action.

Trading signals are typically based on technical analysis – charts, math, and moving averages – but can rely on some fundamental data, such as economic news or political changes. There are both manual and automated trading signals available online or to be generated by the trader themselves. Some of the most advanced forex trading signals can be found at AtoZ Markets.

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How to read forex trading signals

The first key to using forex trading signals and learning how to use them is to understand how to read forex signals. You’ll need a basic grasp of technical analysis and reading charts too. Traders need to understand the context of the trading signal to be sure it meets their goals. For example, a trading signal may look like the following:

Sell AUD/USD at CMP 0.9404 – SL 0.9424 – TP 0.9368

So, this means that the call to action is to sell the currency pair AUD/USD. The current market price is listed at 0.904 and a stop loss is indicated for 0.9424. The take profit order can also be seen at 0.9368. Forex trading signals are not difficult to read or understand if you have some grounded knowledge in the basics of forex trading and technical analysis.

Further training on forex trading can be learned by registering with AtoZ Markets and downloading the dedicated trading signals app. AtoZ Markets provides more than just trading signals and will also provide educational tools for learning how to use the trading signals that they do provide.

How to use forex trading signals

Once you have learned how to read and understand forex signals, implementing them is a cakewalk. To begin, either create your own trading signal or look for a trading signal service provider. Next, take the data from the trading signal and copy it to your trading account. Now, simply wait for the trade to occur and eventually close. At best, you should hopefully be walking away with some profit.

Ultimately, using a trading signal is an easy affair. It is the ensuring that the signal is effective that traders must be concerned with. Using a trusted signal provider is the best way to find quality forex trading signals to use. We at TradersBest think AtoZ Markets is the best trading signal provider to use for your forex trading strategies.

How to create a forex trading signal

The best way to generate forex signals is with a forex trading system. Following a forex trading signal is easy but creating one requires further knowledge of technical analysis for forex. Remember that the best way to practice technical analysis and eventually creating signals, is by leveraging a demo trading account for free.

Here is a TradersBest basic guide to creating a forex trading system for generating forex trading signals.

  • Choose a time frame to analyse, such as a 1-hour chart.
  • Choose your technical indicators to identify a predicted trend – say a moving average system where the trigger occurs when the averages cross.
  • Set another indicator/s to confirm a trend. For example, you could use a Relative Strength Index (RSI).
  • Set a long entry point, short entry point, or both. You should see clearly defined parameters for all.
  • Make sure to have a clearly defined and set exit point too.
  • Finally, you need to determine your risk management strategy. This will be a stop loss, a take profit limit and a reward to risk ratio.

You can easily let this forex system loose on a demo trading account or apply it to a paper trading method. A demo trading account is the best way to determine if a trading signal is effective, as you can see it in action in real time without risking any of your own capital.

Finding forex trading signals

There is a plethora of trading signal sources online and that includes quality free forex trading signals too. But it really is a high-quality trading signal that you must find – never settle for anything less. The standard of signal can make or break your profits but there are a few easy signs of a quality forex trading signal.

Check the time zone of the trading signal; it should basically come in as you are waking up. It’s always a good idea to compare new forex trading signals to known quality signals. Obviously, there are many ways they can differ, but do they compare in terms of level of detail, in particular stop losses and take profits.

The reputation and known quality of the source of the trading signal can also be a good indicator of a high-quality forex trading signal too. Ultimately, be sure it suits your needs. Don’t go picking what seems like great trading signals if they’re not going to match up with your trading needs.

Platforms to get free forex trading signals

In 2021, there are so many different ways to actually obtain signals – including quality free forex trading signals. If you head to TradersBest, you’ll find near-endless lists and recommendations of high-quality forex trading signal providers such as AtoZ Markets. Providers typically offer their services on multiple platforms and can deliver trading signals to almost any device.

Trading signals can be delivered via email, SMS, and sent directly to signal provider apps. These service providers can also deliver trading signals to popular messaging apps like Skype, WhatsApp, or Telegram too. You’ll even find plenty of trading groups on these apps that share forex trading signals and give advice on how to use them.

Components of a great forex trading signal

A high-quality forex trading signal requires a few very important components: entry point, exit point, stop loss, and take profit levels. Without these components, you won’t have a trading strategy. A trading signal would simply identify an opportunity without any parameters to control profits and mitigate potential loss. A great forex trading signal will contain detailed information about stop losses and take profits.The best way to ensure this is to trial a trading signal on a demo trading account.

Much attention should also be paid to time frames. For example, if you were attempting a scalping strategy, a trading signal wouldn’t be received until it’s too late to jump on the scalping opportunity. If you are looking for reversals, multiple timeframes are the best trading signal than only one timeframe.

Ultimately, the mechanics of the trading signal must be easy to understand. Traders really must have an understanding of the basic indicators of the trading signal, but won’t need to know the statistical or mathematical aspects of the system. Above all else, the entry and exit points must always be clearly defined.

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Modifying forex trading signals

Sometimes you can maximise your profit potential by tweaking your signals and using different types of forex trading signals. A trading signal provided by a service should have set parameters but with experience, traders can alter them as they deem fit.

Even trading signals received from a reputable service like AtoZ Markets can be modified easily. Control should always be in the hands of the trader. These are the following changes you can make to an existing trading signal to craft it to meet your specific needs.

Stop loss/take profit

The most obvious change that can be made is to alter or remove the take profit level. A service provider will typically set a take profit limit using a pip measurement but if a trader feels the potential of the trade is far better than the signal identifies, then they could adjust those levels to, hopefully, take more profit. Conversely, money can be saved if a trader identifies a failed trade and can raise the initial stop loss. Traders can also manually close the trade at any point too.

Trade size

Traders may also wish to alter the lot size. Perhaps they can afford more than they initially thought, or the signal was perfect for their needs but a bit too rich for their tastes. With experience, traders can learn to identify the probability of success of a trading signal. Therefore, experienced traders may raise the lot size on a high-probability signal but lower the size on a signal of low probability.

Correlating pairs

Remember that forex is traded in pairs. That means that a signal for one particular pair may possibly be applied to correlating pairs – for example, if you are using a forex signal for the USD/NZ pair, you’ll likely be able to apply the same signal to USD/AUD too.

Sometimes that 2nd trade is actually more profitable than the initial signal. Remember though, if you choose to go down this route that traders must consider the spread when setting stop losses and take profits orders.

Best forex trading signal service provider

At TradersBest, we are experts at sourcing, comparing and advising on the very best trading signals service providers across multiple platforms. Whether you want to receive trading signals via Telegram, email, or SMS, there is an amazing trading signal service provider for you.

Our experts have compared hundreds of trading signal service providers and have concluded that one stands tall above all others for quality forex trading signals including free forex trading signals too. TradersBest recommends AtoZ Markets for high quality forex trading signals online.

AtoZ Markets Premium Signals

AtoZ Markets proudly boasts an average success rate of 70% for their high-speed trading signals. Traders can access between 5 and 15 trading signals per day and can receive them on almost any device. We recommend using Telegram with AtoZ Markets for the fastest delivery of forex trading signals. If Telegram isn’t your thing, then you can also use SMS, email, or the AtoZ Markets app.

AtoZ Markets offers automated trading strategies that integrate into your chosen trading platform. The algorithms by AtoZ Markets are skilfully designed so that new traders can spend more time learning the markets. For forex traders, AtoZ Markets deals with major currency pairs and takes into consideration a host of variables of the forex market. This trading service provider is perfect for those looking for further transparency of the forex market.

Our final recommendation is to sign up to the 14-day free trial to experience the full capabilities of this platform. Should you not want to continue your subscription, you’ll still receive one free trading signal each day. That means whether a full subscriber or just a fan, AtoZ Markets offers free trading signals to all types of customers.


At first, trading signals may confuse new traders and seem a bit daunting. However, with a small amount of education, traders can use advanced trading signals to great success. Some trading signals are completely automated, and traders merely need to execute the trades. Only a basic understanding of technical analysis is required to read forex trading signals and advanced skills are only needed to create your own trading signals.

Thankfully, there are plenty of excellent trading signal providers that can not only produce highly successful signals, but also educate traders on how to use them effectively. One such provider is AtoZ Markets, who employ a team of highly experienced traders to educate new traders on how to use signals to generate successful profits.

Forex Trading Signals – FAQ

🤷 What else can I use trading signals for?

Trading signals are a very versatile tool for traders of a great variety of financial instruments. There are also many different financial instruments across a great variety of markets. Trading signals use many different parameters that can be applied to different tradable financial assets. Some trading signal providers will even cater to a variety of financial instruments too.

❓ How can I get free forex signals?

Some forex signals are offered to traders for no cost at all. Free trading signals can be accessed through a great variety of platforms and, in 2021, many quality signal service providers like AtoZ Markets have the capability to offer signals for free. To find even more opportunities for more free trading signals, traders should head to TradersBest. TradersBest is the home of trading signal advice and trading lessons.

📉 What are the components of a forex signal?

Many different parameters make up a trading signal and parameters are unique to the different tradable assets or trading goals. A forex signal can have many different components but there are certainly several that are common across all trading signals. These components are vital to a quality trading signal and should be learned extensively to be sure that traders don’t get scammed or use a poorly generated signal.  

💹 Can you see profit using trading signals?

The goal of any trader will always be to make profit. Let’s be honest, there is no other reason to trade. There are many ways in which using trading signals can affect the profitability of your trades, but traders cannot simply expect to turn a profit solely from the use of trading signals. You could head to TraderBest to learn more about how to earn profit from using trading signals in 2021.

💲 Do I need to trade full-time to make money?

Traders can choose to trade at whichever time scale suits their needs and meets their trading goals. Some traders trade full time, whilst others trade in their spare time – wherever they can. Trading signals cater to traders that do not have an extensive amount of time to trade and can be useful for trading strategies that suit part-time traders, as well as full time traders.

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